Sanad announces strategic sale transaction with CFM Materials

Sanad, a wholly owned subsidiary of Abu Dhabi's sovereign investor Mubadala Investment Company PJSC (Mubadala), has unveiled a strategic transaction with CFM Materials, the largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong.

The sale of two CFM56-7B engines to CFM Materials highlights Sanad's strategic shift and proactive approach to strengthening its market position in the aviation industry. Through strategic partnerships with leading aftermarket specialists, Sanad reaffirms its commitment and solidifies its role as a key player in shaping the aviation landscape.

This strategic agreement marks a pivotal milestone for the Sanad Leasing division's ongoing strategy, which was initiated last year with a renewed focus on monetising existing assets and leveraging the Sanad Leasing division to empower the Sanad MRO division. The primary goal of this strategy is to drive and bolster the growth of the MRO division of Sanad.

Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad, said: